MUMBAI: It was one of the first major players in the textile sector. But with heavy losses dogging it, the Arvind Mafatlal Group got lost in the rat race. Now, the group is embarking on a journey to rediscover and repair its business. Like all corporate houses betting big on the front-end retailing business the Arvind Mafatlal Group is also looking to jump into the bandwagon.
Its strategy? To bring in foreign labels to India where apparel retailing is currently estimated to be an estimated $22-$25 billion opportunity. The group operates through its flagship Mafatlal Industries and Mafatlal Denim. Mafatlal Industries produces cotton and blended fabrics. The retail initiative is driven by Mafatlal Denim (formerly Mafatlal Burlington).
Says Mafatlal Denim CEO Rajiv Dayal, "We are in talks with global players for a collaboration, whereby we could be a platform to introduce their brands in the country. We are looking at brands that operate in the mid to top-end segment.'' However, Dayal refused to divulge any details.
Mafatlal Denim recently saw a change in ownership with the Mafatlal group buying out US-based Burlington, thus ending the decade old association. The change was a result of Burlington being acquired by private equity investor WL Ross & Co. The new investor had a different strategy for India. WL Ross recently acquired OCM, known for its worsted suiting brand OCM.
According to Dayal, Mafatlal Denim has just completed the expansion of its denim facility at Navsari (Gujarat). It has been doubled to 20 million metres per year. It looks to foray into readymade garments and will set up a unit in the near future. The motive for doing this is that its customers now want it to supply both fabric and garments. The firm caters to brands like Levi's, Marks & Spencer and Lee. var RN = new String (Math.random()); var RNS = RN.substring (2,11); var b2 = ' '; if (doweshowbellyad==1) bellyad.innerHTML = b2;
Its strategy? To bring in foreign labels to India where apparel retailing is currently estimated to be an estimated $22-$25 billion opportunity. The group operates through its flagship Mafatlal Industries and Mafatlal Denim. Mafatlal Industries produces cotton and blended fabrics. The retail initiative is driven by Mafatlal Denim (formerly Mafatlal Burlington).
Says Mafatlal Denim CEO Rajiv Dayal, "We are in talks with global players for a collaboration, whereby we could be a platform to introduce their brands in the country. We are looking at brands that operate in the mid to top-end segment.'' However, Dayal refused to divulge any details.
Mafatlal Denim recently saw a change in ownership with the Mafatlal group buying out US-based Burlington, thus ending the decade old association. The change was a result of Burlington being acquired by private equity investor WL Ross & Co. The new investor had a different strategy for India. WL Ross recently acquired OCM, known for its worsted suiting brand OCM.
According to Dayal, Mafatlal Denim has just completed the expansion of its denim facility at Navsari (Gujarat). It has been doubled to 20 million metres per year. It looks to foray into readymade garments and will set up a unit in the near future. The motive for doing this is that its customers now want it to supply both fabric and garments. The firm caters to brands like Levi's, Marks & Spencer and Lee. var RN = new String (Math.random()); var RNS = RN.substring (2,11); var b2 = ' '; if (doweshowbellyad==1) bellyad.innerHTML = b2;
